The whole idea and effort to predict emergent characteristics from a complex system -- prices! -- is hard and sketchy enough. I think it's fooling everyone atm, but it is actually struggling to stay afloat.
I think the tape is hiding the very real dangers from us, we're so complacent now, no one has any idea just how close we are to a market event. Does Pelosi break off stimulus negotiations with the Administration? Will that be our spark, or a surprise piece of macro data? There is massive EOQ rotation ahead -- forced selling, lads.
| SPX hourly |
You can see on the daily that we are kissing-back the old rally channel. Well ... good-bye to you.
| SPX daily |
GLTA
5 comments:
https://gnseconomics.com/2020/09/23/are-we-heading-to-another-great-crash-of-1929/
Towards the end of the 1920s, there was a common belief that earnings and dividends would continue to grow rapidly because of the systematic application of science to industry, the development of modern management technologies, and the efficiency of business mergers. This was certainly not the last time this kind of thinking dominated.
Saludos
el mar
So we're looking at the 200 DMA tomorrow, and an "event" when that support is lost, into EOQ.
The tape since 9/8 has been a running correction.
OK, I'll clarify. If it's a running correction, we ought to know tomorrow with the Core Durables report.
Having watched and traded this utter FARCE of a market for 26 years, I no longer believe anything about it is real and it will never reflect reality. It's a PERMA-BUBBLE!
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